Warning issued over public sector pensions
12th March, 2010Pension payments to retired public servants could balloon by 200 per cent to £79billion a year in the next 50 years, according to a report by government spending watchdogs published today.
The National Audit Office has said that unfunded public sector pension schemes will cost £79 billion a year by 2060, compared with £25 billion this year.
The rise will be due to increased longevity and increases in the real earnings of public sector workers.
The study is likely to increase pressure…
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